November 18, 1990
Douglas P. Blankenship was one of four children born to a coal miner's family in Argo, a hill town of 175 people in the Pine Mountains of eastern Kentucky. After his graduation from Eastern Kentucky University, Blankenship left the hills for good in 1972 and moved to California. Over the years, he acquired all the trappings of the good life--a closet full of handmade silk suits, a gold-colored Rolls-Royce and a $1.5-million home overlooking the ocean in Capistrano Beach.
September 11, 1991 |
Nine associates of Douglas P. Blankenship, a Capistrano Beach man who has pleaded guilty to defrauding scores of banks and savings and loans of $25 million, were sentenced over the last few days to prison terms ranging from six months to four years. In what federal prosecutors called one of the largest white-collar crime cases ever in western Washington state, Blankenship and the others had pleaded guilty in federal court in Seattle to defrauding Puget Sound National Bank of $4.
November 3, 1990 |
Federal authorities said Friday that 15 people--including five Orange County and two Los Angeles-area residents--have been indicted in Seattle in what they described as a $25-million fraud and racketeering scheme against financial institutions in seven states. The figure behind much of the fraud was Douglas P. Blankenship of Capistrano Beach, who was arrested Thursday, authorities said.
November 3, 1990 |
Federal authorities said Friday that 15 people around the country--including five Orange County and two Los Angeles area residents--have been indicted in what they described as a $25-million fraud and racketeering scheme against financial institutions in seven states. The major figure behind much of the alleged fraud was Capistrano Beach resident Douglas P. Blankenship, who was taken into custody Thursday night by the FBI.
November 9, 1990 |
Douglas P. Blankenship--accused of masterminding a $25-million fraud against financial institutions in several states--was denied bail Thursday by a federal magistrate who said "there are a lot of suspicious activities going on," including the disappearance of the San Clemente businessman's gold-colored Rolls-Royce. In rejecting a defense attorney's claims that Blankenship is "honest and trustworthy," U.S. Magistrate Ronald W.
May 2, 1991 |
Douglas P. Blankenship, a Capistrano Beach man accused of posing as a wealthy developer to falsely secure $25 million in loans from banks and businesses across the country, has pleaded guilty in Seattle federal court to racketeering. Blankenship used aliases, corporate fronts, phony tax returns and false financial statements to mastermind a massive scam against financial institutions in seven states, officials allege.